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    The Largest CRE Database in the US with Over 1 Million Listings

    1448 Stearns Dr Los Angeles, CA 90035

    Sponsored
    Picture of Apartment buildings at Stearns Dr 1448, Los Angeles, CA
    For Sale
    $1,900,000

    Apartment - Los Angeles, CA

    Type:Apartment
    Property size:
    6,710 SF
    Lot size:
    6,451.00 Acres
    Days on Market:
    18
    Last Refresh:
    Jan 29 at 10:06 am

    Property Features for 1448 Stearns Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Standard status
    Active
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    10
    APN
    5068012010
    Parking
    8
    Parking features
    Covered
    Exterior features
    Community Features Included: Sidewalks, Street Lights, 6-10 Units/Acre
    Size
    6,710 SF
    Lot size
    6,451.00 Acres

    Utilities

    Cooling system
    Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1966
    Floors in Building
    2
    Number of units
    8
    Architectural style
    Other

    We can help!

    Listing Contact
    Tom Aragone

    First Team Real Estate (949) 988-3000

    Listing agent Tom Aragone (949) 759-5747 License #02046483

    Listing date Jan 12, 2026

    MLS# OC26005903 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Pico-Robertson Multifamily Investment Opportunity

    Located in the Pico-Robertson neighborhood of Los Angeles, this well-maintained 8-unit apartment building was built in 1966. The property features approximately 6,710 rentable square feet on a 6,449 square foot lot, zoned LAR1. The unit mix includes one studio (560 SF), four one-bedroom/one-bath units (670–740 SF), and three two-bedroom/two-bath units (900–1,040 SF). Select units have updated interiors, including new flooring in Units 5 and 8. Wall-mounted air conditioner/heater combos were recently replaced and are scheduled for early 2025. Each unit includes one dedicated, underground parking space. Seismic retrofitting has been completed in compliance with Los Angeles’ soft-story ordinance. Electricity and gas are separately metered and tenant-responsible. The owner covers water and building gas for hot water. A former laundry room space in the underground parking area offers the potential to reinstate on-site laundry facilities. The property is currently 100% occupied with mostly long-term tenants and operates under the Los Angeles Rent Stabilization Ordinance (RSO). Only one unit is on a fixed- term lease (through March 2026), with the remaining seven on month-to-month agreements. The property is located moments from Pico Boulevard’s retail corridor and residents enjoy walkability to The Grove (1 mile), Beverly Center, and LACMA, as well as access to the 10 Freeway and public transit. This asset delivers cash flow with pro forma potential and is ideal for exchanges, value-add investors, or owner-users.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.37135
    Latitude
    34.05079

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained 8-unit apartment building in prime Los Angeles location.
    Where is this apartment building located?
    The property is located at 1448 Stearns Dr Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: - Value-add opportunity: Below-market rents and month-to-month leases offer immediate potential for rent increases and income growth through renovations and turnover.; - Prime location: Situated in the highly desirable Pico-Robertson neighborhood, with excellent walkability to Pico Boulevard's retail corridor, The Grove, Beverly Center, and LACMA, plus easy access to the 10 Freeway.; - Strong in-place cash flow: The property is 100% occupied and delivers strong in-place cash flow with attractive pro forma potential.
    (714) 926-9534
    Request Owner's contact information
    1448 Stearns Dr Los Angeles, CA 90035
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    Los Angeles, CA 90035
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1448 Stearns Dr Los Angeles, CA 90035
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    We can help!
    Listing Contact
    Tom Aragone
    Real Estate License ID: 02046483
    (714) 926-9534
    Learn more
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